Will circulated modern coins ever be worth anything?

[Coin]

Wow, never put that much thought into it , until recently , but I gues it would make sense that we lose a lot of coinage due to actual loss and damage , I just can not seem to fathom the sheer numbers that are lost each year....like the supply the Fed keeps putting out to the banks is constantly being dwindled down as fast as the newer cains can be put out .

 

I'm on the road a lot each an every week and I cover the entire Eastern Coast and the South Eastern region to Dallas FtWorth ....most of the 1960's coinage I get in change comes from smaller stores off exits in remote areas .

 

Although I collect UNC coinage for the most part , I do have a small hoard from all the way back to my childhood of collecting ...and this has been the source of fun for filling up old whitman folders about once a year when I get a total slow-go day.

 

Could others be stockpiling coins in a similar fashion enough to cause the Fed/Mint to have to produced soo many replacements every year?

[Coin]

OOPS , Sorry Michael , not trying to steal your thread.....just your original question and some of the replies really got me to wondering again.

-John

[pendragon1998]

[cladking]

Wow, never put that much thought into it , until recently , but I gues it would make sense that we lose a lot of coinage due to actual loss and damage , I just can not seem to fathom the sheer numbers that are lost each year....like the supply the Fed keeps putting out to the banks is constantly being dwindled down as fast as the newer cains can be put out .

 

I'm on the road a lot each an every week and I cover the entire Eastern Coast and the South Eastern region to Dallas FtWorth ....most of the 1960's coinage I get in change comes from smaller stores off exits in remote areas .

 

Although I collect UNC coinage for the most part , I do have a small hoard from all the way back to my childhood of collecting ...and this has been the source of fun for filling up old whitman folders about once a year when I get a total slow-go day.

 

Could others be stockpiling coins in a similar fashion enough to cause the Fed/Mint to have to produced soo many replacements every year?

 

It's hard to believe but there was virtually no drawdown of coins caused by collectors prior to 2000. There has simply never been any evidence that this occurred. While it's happening you'll see curious distributions in rolls; a roll may be all one date or one mint, all the high grade coins will be gone from a batch of coins or all the better dates will be gone. There will be more rolls around with handwritten names and addresses. There will even be talk at the bank about what was found.

 

After collectors have been doing this even briefly then the effects become more dramatic. High grades are gone right along with better dates. Perhaps the best place to see it is in the distribution by grade of a better date. Where common dates form a sort of bell curve around an average grade with the better dates you'll see that the whole upper end is missing and the coins with less wear usually have significant damage.

 

Prior to 2000 almost all new demand for coinage (except cents) was caused by the loss or destruction of existing coinage or by growth in the economy. Of course there were seasonal and regional variations caused by the tendency of people to retain more coins during good times and as a form of savings for Christmas or personal needs. Some regions also tend to have a net influx of coin.

 

There are lots of ways coins are destroyed and lost. They get recycled in cars, burned up in fires, and lost in floods. People use them as tools or drop them where they are impossible to recover. They are thrown in wishing wells; when Niagra Falls was shut off for repairs some years back several truckloads of coins were removed. Nashville recovers millions from their garbage stream (after incineration) and ships them to the mint for redemption. Most municipalities are not equipped to recover these coins.

[Coin]

"They are thrown in wishing wells; when Niagra Falls was shut off for repairs some years back several truckloads of coins were removed. Nashville recovers millions from their garbage stream (after incineration) and ships them to the mint for redemption. Most municipalities are not equipped to recover these coins."

 

 

They diverted the water at Niagra Falls ? Wow . Truckloads of coins brought out ? WoW .

 

Nashville gets millions from post-incineration residue? WoW Wow

 

I never thought of these , now that is interesting !

 

I have gotten very few better dated coins from circ than purchases , but have found most of the error'd common dates like wide AM cents and doubled Rev 1983 cents in change , but only because I intentionally look for them .

 

Cladking , I think you are right about the rolls having been cleaned out for better dates and even modern errors , as I have only found those funny DDO Rev State quarters in rolls , that is , until they became spotlighted in magazines and papers....now they are hard to find in rolls too.

[Beijim]

There's a Discovery Channel special showing how they manage Niagara Falls. They totally control the flow to reduce erosion over the actual falls. The special was really interesting and probably runs periodically. I think it was something like the "Extreme Engineering" series or similar.

 

Beijim

[cladking]

I don't believe the coins are completely picked over yet.

 

Even those which have been searched are dependent on the expertise of the person picking over them. If a collector isn't familiar with or looking for a '72-D DDR quarter then he's most unlikely to spot it and it remains in circulation just as though it was "unsearched". The same applies on many levels. For instance if someone already has the finest 1971 dime in existence he might simply spend the second finest.

 

I still find a lot of great stuff.

[just-john]

I'll share a place to find coins from the a certain year.My grandson james wanted to borrow my truck to get some parts for a car he's restoring.I went along for the ride to the auto parts yard.While he was getting his parts i way just walking and looking at the old cars saw one with some change on the console of one.Next im pulling the rear seats up can't believe the amount's under some seats.Older the car older the coins.It's now as much fun or more fun

than going to shows.Everybody should try this in your area

[Coin]

That was one of the places I was talking about earlier . It seems the salvage yards around me have been picked clean of coins ! Must be another collector or two near me that also knows how to work on old cars.......I did find two cents in circ shape but not crusted in a '50 Ford two-door Tudor business coupe and both were in the late fifties .... they were under the rear seat (sofa , man you could put a platoon in those old cars!) too .

 

 

I'll check out the engineering marvels on Discovery when I get a chance ...I'm off to Florida this morn to get to the FUN(gonna go through all the old cars in the parking lot while the owners are in the bourse ) , after a stop-over in Mobile , AL to see Family.